After Wanda Deal, Chinese Property Developer Faces Debt Risk
RisingWorld
2017-07-16
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After Wanda Deal, Chinese Property Developer Faces Debt Risk
The company said in a statement to the Hong Kong Stock Exchange on Tuesday
that the deal with Wanda “will add a large number of prime land reserves and property assets for the company at a reasonable cost
“But I often tell others: After you fail, you can start again.”
With the Wanda deal, Sunac is extending its reach into tourism, paying $9.3 billion for 76 hotels
and a major chunk of its 13 tourism projects, in the country’s largest property acquisition ever.
By SUI-LEE WEEJULY 14, 2017
BEIJING — The Chinese property developer Sunac China Holdings has turned into one of the country’s
biggest white knights, swooping in to help troubled companies with too much debt.
The company said in a statement to the Hong Kong Stock Exchange on Tuesday
that the deal with Wanda “will add a large number of prime land reserves and property assets for the company at a reasonable cost
“But I often tell others: After you fail, you can start again.”
With the Wanda deal, Sunac is extending its reach into tourism, paying $9.3 billion for 76 hotels
and a major chunk of its 13 tourism projects, in the country’s largest property acquisition ever.
By SUI-LEE WEEJULY 14, 2017
BEIJING — The Chinese property developer Sunac China Holdings has turned into one of the country’s
biggest white knights, swooping in to help troubled companies with too much debt.
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